2012 Salary Survey Shows IT Skills Remain In Short Supply On The Street

Specialized IT skills remain in short supply and are demanding a premium in the marketplace. Here are 10 highlights from the 2012 Salary Survey.

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Despite the uncertainty surrounding the financial services industry, specialized IT skills remain in short supply and are demanding a premium in the marketplace, according to the 2012 Salary Survey from Wall Street & Technology, Bank Systems & Technology and InformationWeek. However, IT workers are content in their jobs, with only 7% actively looking for new employment. Here are 10 highlights from the 2012 Salary Survey.

1. Gender Gap

Despite improvements during the past two decades, there is still a noticeable difference in compensation for men and women. Male IT managers take home $135,000 on average, while female technology leaders bring in 14% less, at an average $115,000 of total compensation. Female IT staff members fair slightly better based on percentages, but are still not equal in pay to their male counterparts. Woman in the IT workforce in banking bring in 10% less ($90,000) than their male peers ($100,000).

re: 2012 Salary Survey Shows IT Skills Remain In Short Supply On The Street

You'd think by now that banks would be less reluctant to provide training to their existing, valuable employees to meet these needs. -ŠYou'd also think that HR recruiters would be told to stop eliminating people just because they 1. were unemployed, and 2. only a 90 or 95% match to a job spec. -ŠThe shortages are no where near as bad as banks would have you think; they just have such horrific hiring practices. -ŠAlso, by whining about a shortage they can justify using H1B labor at much lower rates and also offshoring huge numbers of tech jobs. -ŠThere really is not much of a shortage of talent, just a shortage of money that management is willing to pay talent. -ŠExample; someone I know got laid off from his well paying job as a COBOL programmer, -ŠHe was then offered UP TO $23/hour -Što come back as a consultant with no benefits to do the same work when his firm couldn't find enough 'talent' in Bangalore, Mumbai and Manila. -Š